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Author: kimeng   |   Latest post: Thu, 19 Jul 2018, 09:51 AM

 

CapitaLand Limited: To Jointly Redevelop Golden Shoe Car Park

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CapitaLand (CAPL) announced that, for the redevelopment of Golden Shoe Car Park in Raffles Place into an integrated development, it will form a joint venture with CapitaLand Commercial Trust (CCT) and Mitsubishi Estate Co Ltd (MEC).

CAPL and CCT will both hold 45% stakes in the JV while MEC will take a 10% interest in two unlisted special purpose subtrusts to own the office and serviced residence components of the development. The total development cost is estimated at S$1.82b and will be funded by the JV partners in proportion to their respective interests.

The new integrated project will be 51 stories high and have a GFA of about one million square feet, of which 29 floors will comprise premium Grade A office space and an eight storey 299-unit serviced residence to be managed by The Ascott Ltd – CAPL’s serviced residences unit.

Maintain BUY on CAPL with an unchanged fair value estimate of S$4.07.

Source: OCBC Research - 13 Jul 2017

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Labels: CapitaLand

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Chart Stock Name Last Change Volume 
CapitaLand 3.19 +0.02 (0.63%) 10,654,300 

Market Buzz

Date Type Subject
20-Jul-2018 Announcement Asset Acquisitions and Disposals::Increase in shareholding in a subsidiary
20-Jul-2018 Announcement Disclosure of Interest/ Changes in Interest
20-Jul-2018 Announcement Financial Statements and Related Announcement::Second Quarter and/ or Half Yearly Results
20-Jul-2018 Announcement Notice of Valuation of Real Assets::CapitaLand Mall Trust - Asset Valuation
19-Jul-2018 Announcement Financial Statements and Related Announcement::Second Quarter and/ or Half Yearly Results
19-Jul-2018 Announcement Notice of Valuation of Real Assets::CapitaLand Commercial Trust - "Asset Valuation"
19-Jul-2018 Announcement Notice of Valuation of Real Assets::CapitaLand Mall Trust - Asset Valuation
18-Jul-2018 Announcement General Announcement::CapitaLand receives the most wins at Singapore Corporate Awards for the second consecutive year
18-Jul-2018 Announcement Change - Change in Corporate Information::Dissolution of Dormant Wholly Owned Subsidiary - CapitaRetail Gurney Sdn. Bhd.

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